Stamford Tyres sees recovery continue in Q3

ERJ staff report (DS)

Singapore -- Stamford Tyre's revenue for the three months to 31 Jan 2011 improved by 9.6 percent to S$89.3 million (euro 50.8 million) in 3QFY11 from S$81.5 million in 3QFY10, backed by a 39.0 percent year-on-year growth in tyres sales revenues in South Africa.The Group's profit after tax increased by 25.6 percent to S$3.0 million in 3QFY11 from S$2.4 million in 3QFY10. The higher earnings was primarily due to better tyres sales.

For the nine month period, Turnover for the Group grew by 10.8 percent to S$251.7 million in 9MFY11 from S$227.2 million in 9MFY10, backed

by a 48.7 percent year-on-year growth in tyres sales revenues in South Africa. Profit after tax climbed by 9.6 percent to S$5.8 million in 9MFY11 from S$5.3 million in 9MFY10, driven by higher demand for the Group's tyres.

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Press release from Stamford Tyres